I somehow think the old boy might test drive it and think its a bit nippy lol but it might be my only option, I'll ring some local dealers tonight and see what they say
Audi sound vs B&O
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I somehow think the old boy might test drive it and think its a bit nippy lol but it might be my only option, I'll ring some local dealers tonight and see what they say
You will really struggle to get cover, I did. They wouldn't cover me on a 1.0 courtesy car! But then I drove an A4, RS3, S3 twice and now I own my S3, I'm waiting for the demonstrator before they give me the R8 Spyder for a couple of hours.. to take away!!!
Yeah and then she gets broody and wants babies, then it's game over for a long time mate.that would mean waiting 7 years Jon!like Jassy says tis the age of must want and must have! I was thinking to buy nice things before a house and a woman comes about and spends all my monies for me! lol
Been there, done that lol.
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In to your performance cars but didn't derestrict your 'ped you truely are a nutta!!!. If I've worked it out correctly you would've spent a solid 26 days in the saddle if you'd done it all in one go rofl !
Flying Scotsman
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Joe, I would not get too hung up on a test drive. If you do score one, it will be a 5-10 minute drive tops with a salesman in the passenger seat and that is not much time for an evaluation. If you were my age, they give you a car for 4 hours or more and then you can truly evaluate the car. Just sit in the car and let your dad or a salesman drive it. Then sit and with no talking, listen to how the car sounds, feels whilst cornering, accelerating and your vision forward and to all sides. Not the best, but believe me a lot of people buy a new car without test driving it.
I know, it's disgraceful
On my 17th birthday it was derestricted and would get close to 40, but I only did a few hundred miles like that before it went. I didn't mainly for the worry of getting caught and being done for 'riding without inacdordande of a licence'. Plus it did 146mpg at 28mph, insane!
You need to prove serious. I were back and forth for a couple of years. I had a chat with the head of business with my Dad, asked for a ride in an RS3 which was sorted and then I asked to drive it on the day.
I drove an RS3 with a salesman.
Had an RS3 for a day.
Drove another RS3 with a salesman when we bought a car for my Mum.
I went to look to buy an RS3, because I were 110% interested they took me out no quibbles.
Go with your Dad, show you're serious and hope for the best, hold them to it that if they want you to spend that kind of money then to let you drive.
Consider yourself very fortunate Nut job....lol Audi wont even let my son drive either a S3 or anything else until he's 25....this January...he's asked for a R8 that weekend so guess who's door is going to get Chapped first....lol
Flying Scotsman
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For insurance reasons any dealer I have dealt with will not let someone under the age of 25 drive a demonstrator car. I am surprised that Audinutta managed one in an RS3 for a day, no less.
That is in Canada though...is the UK different?
That is in Canada though...is the UK different?
I'm surprised too, Audi have been very good to me. They lost 2 sales from me (this particular dealer), I complained and the RS3 from 9 till 5 was an apology. I then placed a deposit and got to drive the S3 on two occasions when my car was in for service.
The test drive is more of a sales tool to help you imagine yourself as the proud owner of such a car and nudge you into buying one than it is a useful comparator or gauge for you. I hardly ever test drive a car. In 2000 I fancied a new MR2. I read reviews, especially long term tests, but test drives really don't tell you what a cars like to live with, so I simply ordered one from a dealer in Denmark (back then you could save a fortune buying your uk spec car in Europe). First time I ever sat in one was when I flew to Esjberg and went to pick it up. I've bought five or six other cars since without driving them, and i only regret one of them which was a £1500 used Clio. It's a good car, but it's too ****** slow.
I did get a test drive when I first went look at the S3 though. Didn't actually want one, didn't even ask for one, but the sales guy was very insistent. I learned absolutely nothing of any real value though, a 10 minute drive through traffic and a quick straight line dash up a dual carriageway is not as informative as you might think. Especially in this car since it was everything I definitely didn't want; a sportback on 19's with S&Tonic 'box. Damn near put me off buying one at all.
RSS-S3
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My advice to you is a lease will not be the best idea, as you dont have the options like you do on A PCP deal for the kind of usage your probably going to use your car for.
Also Big deposits are a really BAD idea when Buying a car..... the ONLY time its a good idea is If you was going to be buying the car on Hire purchase and keeping it for a long time.
also DONT assume second hand cars are cheaper to buy on finance as usually the interest rates are much higher and you lose some of the warranty.
I have saved allot of friends from gettig involved with over priced crappy finance where the end up with a car thats worth nothing, but they cant do anything with!
My other piece of advice is shop around, go to a few different dealers and explain exactly what you want to do. (never jump in to the first offer) as you will always find a better deal.
If you know how much you could budget per month to pay for (just the car -no running costs)
Say to the dealer thats what kind of monthly payment your trying to achieve and they (should) be able to explain your options and get the best price. (The key here is to put as little deposit down as possible as effectively deposits are dead money..... the only thing a deposit does is determine your monthly repayment)
Im 24 in February next year and I have just orderd my FL S3 but this will be my 4th NEW car!
I have spent Allot of time researching and understanding car finance and options and believe me its very easy to get tied to a dead weight option!
But if you take your time and do your homework, you can end up with much better than you may initially think!
A counterpoint to the 'big deposit = BAD' argument.
Assuming an example 3 year deal on a £30k car with a GVF of £15k;
Put in a £0 deposit, and you're borrowing £30k. You'll pay (at Audi rates) a total of £19,684 in monthly payments before its time to hand the car back, or slap in another £15k of your cash to own it outright.
Put in a £10k deposit, and you're only borrowing £20k. This is advantageous since you'll pay, including that £10k deposit, over £1000 less for the same 3 year period.
In the meantime your credit score is better and you're paying out less every month in repayments. Giving you the opportunity to save up for that final payment.
Putting down a bigger deposit has other benefits besides saving you money;
1/. It offers more flexibility, meaning you can bail out of the car earlier if you need to, or even change cars, since a good deal of the capital is already paid off.
2/. It's means you have to borrow less money, and this is much better for your future credit worthiness. This means you have easier access to other lending, such as loans and mortgages. Here's what Experian, VW finances credit reference agent, has to say;
Assuming an example 3 year deal on a £30k car with a GVF of £15k;
Put in a £0 deposit, and you're borrowing £30k. You'll pay (at Audi rates) a total of £19,684 in monthly payments before its time to hand the car back, or slap in another £15k of your cash to own it outright.
Put in a £10k deposit, and you're only borrowing £20k. This is advantageous since you'll pay, including that £10k deposit, over £1000 less for the same 3 year period.
In the meantime your credit score is better and you're paying out less every month in repayments. Giving you the opportunity to save up for that final payment.
Putting down a bigger deposit has other benefits besides saving you money;
1/. It offers more flexibility, meaning you can bail out of the car earlier if you need to, or even change cars, since a good deal of the capital is already paid off.
2/. It's means you have to borrow less money, and this is much better for your future credit worthiness. This means you have easier access to other lending, such as loans and mortgages. Here's what Experian, VW finances credit reference agent, has to say;
Flying Scotsman
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I could not agree more with GSB's assessment on a large deposit. In fact my recent order will at time of hand over at delivery in March will comprise of about 70% as a deposit and the balance paid off over 4 years at 2.9% interest. I could pay cash outright but to maintain my credit rating as top notch, I always like to show an outstanding credit balance that is in good order. This is regardless of whether I own my own home with clear title and have other assets. It also allows me at a moments notice to pay off any outstanding financing on my car if another car catches my fancy, and trade in or sell my existing car with a fair bit of equity. In fact my S3 that is on order, I have paid off the balance of my existing car after 3 years of ownership and got a sweetheart deal on trade in at time of hand over, as the car had no outstanding lease of finance charges owing, which makes it easier for them to buy/sell due to taxes
I use to lease cars when I was in business but that only made sense then, as I could write off almost 80% of all expenses.
I use to lease cars when I was in business but that only made sense then, as I could write off almost 80% of all expenses.
i rang my local audi and they said exactly that, (probably not thinking I was being serious either as only 18) after I explained I have a large deposit and a car to trade in they changed the story to, ' if we get closer to signing some papers im sure we can arrange a test drive'
Thanks for the reply buddy, can you give me a bit more detail as to why a big deposit on PCP is not a good idea? whats the difference between a big deposit + small monthlys, and small deposit and high monthlys?
Cheers,
Joe
So really a big deposit isn't necessarily a bad idea?
low monthly repayments sound good to me meaning like you said, I will be able to save more and also minimise cost to the car (well below 500 once fuel is considered) I don't really want to be spending more than £500 a month on the car (repayments + fuel combined) just to allow for living and other savings, I would but the insurance yearly too.
Apologies for my youthfulness and lack of knowledge! but on PCP when a car 'goes back' how do you get a good deal off them with your next car as it is going back and you are getting nothing in return are you?
Returning the car is only one of the options. If it has equity then you can use that as a deposit on the next car. You can also choose to pay the final payment and own it outright. I think there's another option where you can extend the agreement (refinance with your dealer) and basically just keep paying the monthly amount.
If your circumstances change, you can also 'voluntarily terminate' any of these finance agreements (I think any... certainly you can with PCP). If you've paid over half the finance off, you can just hand the car back - no excess mileage charge. This is a last resort however - it's a legal right you have designed only for if you are really in financial trouble. The finance company won't like you doing it one bit, and will likely try and charge you the excess mileage (they can't legally though). It won't affect your credit rating either, but a note will be put on your credit history that you have done it, and other car finance companies will likely not lend to you in the future. The one you did it with almost certainly wouldn't.
You shouldn't do that under normal circumstances of course, but it might reassure you that you have more options if the finances all go tits up half way through your plan.
You shouldn't do that under normal circumstances of course, but it might reassure you that you have more options if the finances all go tits up half way through your plan.
VT'ing might not be an option if the final large payment is over half the total amount financed.
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Prior to my A3 I was running a Focus diseasal (which I had bought outright from new). I calculated the FULL price of running the car at the mileage I was doing (purchase price, fuel, servicing, insurance, tax, the not many bits I'd bought, what I could sell it for [depreciation], etc etc). Was around £400/month. Will start to do that do that for my A3 (the total end-to-end cost) to see how it compares. A3 was 18 months old and bought outright. Would be interesting to see what it is for an S3 too. And how it compares with end-to-end cost for PCP etc. etc
And if you divide that £400 by the miles you do each month, you get a scary number of the real cost per mile of running the car - especially if you do a low mileage! (I realise I'm not factoring in the convenience, driving pleasure, cost of alternative transport, etc etc)
And if you divide that £400 by the miles you do each month, you get a scary number of the real cost per mile of running the car - especially if you do a low mileage! (I realise I'm not factoring in the convenience, driving pleasure, cost of alternative transport, etc etc)
No, but equally you can just pay the finance company enough to get you to that half way point then VT it if that becomes your best option due to change in circumstances or whatever.
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Hi Joe, I was in a similar situation to you looking at used cars. I went the route of large deposit (my trade in + cash) & a personal loan from my bank (3.5% apr) for the remainder. Check out finance from lots of different sources other than the Audi retailer (they will all be cheaper, upselling finance is where a large chunk of used car sales profit margin comes from). When I purchased Audi were doing an offer of up to 2 yrs warranty on top of whatever remains from the initial 3yrs (they run this promotion every few months) or alternatively you can purchase an annual warranty product from Audi (recommended) or elsewhere (warranty wise etc) at the end of the three years manufacturers warranty period.
& most importantly enjoy the car when you get it... we need to see pictures!.
The advantage of a personal loan to me was owning the car from the start, so any job loss etc I'm free to sell the car, pay off the loan & keep the remaining money to buy an old banger to keep me mobile (I don't like the idea of just handing a car back that I've paid a large chunk for & not having anything to show for it, but that's just a personal viewpoint). Lower monthly costs by financing elsewhere 3.5% rather than the (at that time) 11% apr on Audi pcp. No mileage restrictions (I exceed 25k miles annually). I'd suggest the rather boring route of sitting down once you have all the figures for the various options PCP, lease & personal loan etc & work out which looks the most suitable option for your situation.
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So I'm
thanks for the advise Rich, I'm starting to think about going down the PCP route, is your same advise applicable to this? as in getting the finance elsewhere? I believe Audi is about 6.9% APR at the moment.
thanks for the advise Rich, I'm starting to think about going down the PCP route, is your same advise applicable to this? as in getting the finance elsewhere? I believe Audi is about 6.9% APR at the moment.
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TBH I've never shopped around to investigate if PCP is available elsewhere, but if Audi are now offering it at 6.9% apr I'd say that's reasonably competitive to consider taking it through them anyhow. As I said previously weigh up all of the options once you have them & go for the one you're most comfortable with as everyones situation is different.
RSS-S3
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Its a balancing game...
Put the minimum deposit down, that gets you a comfortable monthly payment.
Putting down large deposits into a car and then changing every 3-4 years is a pointless exercise.
Like I said its a balancing act Not all cars have a great GMFV and also your vehicles condition over the period will obviously change and there is no reason why they cant offer you the base value of the GMFV.
If this happens you can end up being completely upsidedown in the finance (negative equity)
Like I said the doesnt happen with all cars, but it happens with more than you think..
The other option is to put your minimum down so you end up with the monthly repayment you want and keep the rest of your money aside, so if you think to yourself I want out of this or I want to upgrade than you have your cards in your hand rather than having already plowed tons of money into your car.
Put the minimum deposit down, that gets you a comfortable monthly payment.
Putting down large deposits into a car and then changing every 3-4 years is a pointless exercise.
Like I said its a balancing act Not all cars have a great GMFV and also your vehicles condition over the period will obviously change and there is no reason why they cant offer you the base value of the GMFV.
If this happens you can end up being completely upsidedown in the finance (negative equity)
Like I said the doesnt happen with all cars, but it happens with more than you think..
The other option is to put your minimum down so you end up with the monthly repayment you want and keep the rest of your money aside, so if you think to yourself I want out of this or I want to upgrade than you have your cards in your hand rather than having already plowed tons of money into your car.
Flying Scotsman
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I respectfully disagree with putting a minimum deposit down on any purchase that you make whether it be for a house, car, etc. This just leads to an individual/family being up to their necks in credit and the consequences that follow, if your financial circumstances change for the worse, can be life changing.
Most Western governments today are very alarmed at the amount of outstanding personal credit that is being carried.
Most Western governments today are very alarmed at the amount of outstanding personal credit that is being carried.
so you think my plan of large deposit and small monthly payments is a good idea? this is what im moving towards I think....
Flying Scotsman
Registered User
One word......Yes.......especially, if you are young, as you will be showing financial competence.
Flying Scotsman, just been discussing on another one of my threads....
so one issue/threat spotted is that obviously putting down a deposit and part ex'ing my car is all well and good, but I wouldn't want to swap my car out until the S3 was here and ready for me to take away. im assuming it would be okay for them to just take the car off me once the s3 arrives, however. isn't there the potential for them to try and rip me off and offer a very poor trade-in for my current car as I will be kind of stuck with no other option?
or (if you can follow what im about to say) does the original deposit for them to start building the car etc not have to be the full sum of what you are planning to deposit?
Cheers for any help,
Joe
Flying Scotsman
Registered User
Here comes to use Donald Trump's words 
" The Art of the Deal"
You have a car to trade in. Ask the dealer what is the car worth today? He gives you a price, you haggle. You then state OK I am going to order a new S3 which will take 3-4 months to arrive. The car will be as you see it today with a few extra miles on the clock. I want the price you quoted me for a trade in today....more haggling but stick to your guns to what he originally quoted as 3-4 months on a used car means nothing.
The point is begin your negotiation on a car they have in stock or on the floor...do not state it is for a car that you will order.
If you do not get a favourable response in dealing with the salesman...start walking out the door.
A better day to do this is a Monday or a Tuesday in the morning, especially towards the end of the month. Avoid the weekend, if you can. Also, get the used car quote in writing with your new car quote/contract
Edit: I was able to put down only 1,000.00 quid on my factory order, but my age and loyalty to the dealership ( they are huge, Audi, Jaguar, VW, Land Rover) was probably a factor.
" The Art of the Deal"You have a car to trade in. Ask the dealer what is the car worth today? He gives you a price, you haggle. You then state OK I am going to order a new S3 which will take 3-4 months to arrive. The car will be as you see it today with a few extra miles on the clock. I want the price you quoted me for a trade in today....more haggling but stick to your guns to what he originally quoted as 3-4 months on a used car means nothing.
The point is begin your negotiation on a car they have in stock or on the floor...do not state it is for a car that you will order.
If you do not get a favourable response in dealing with the salesman...start walking out the door.
A better day to do this is a Monday or a Tuesday in the morning, especially towards the end of the month. Avoid the weekend, if you can. Also, get the used car quote in writing with your new car quote/contract
Edit: I was able to put down only 1,000.00 quid on my factory order, but my age and loyalty to the dealership ( they are huge, Audi, Jaguar, VW, Land Rover) was probably a factor.
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Here comes to use Donald Trump's words
You have a car to trade in. Ask the dealer what is the car worth today? He gives you a price, you haggle. You then state OK I am going to order a new S3 which will take 3-4 months to arrive. The car will be as you see it today with a few extra miles on the clock. I want the price you quoted me for a trade in today....more haggling but stick to your guns to what he originally quoted as 3-4 months on a used car means nothing.
The point is begin your negotiation on a car they have in stock or on the floor...do not state it is for a car that you will order.
If you do not get a favourable response in dealing with the salesman...start walking out the door.
A better day to do this is a Monday or a Tuesday in the morning, especially towards the end of the month. Avoid the weekend, if you can.
Sounds like a plan my friend! I'm still going to go this sunday as its only time im free and it takes an hour to get to the dealers. I'll express some interest and find out some info that I want. but youre saying act interested in a car that is in stock so that he will give me a price for my car on the day? and yeah I understand the whole start/end of the month trick ; ) it worked with the fiesta I have at the moment lol
RSS-S3
Registered User
What??
I have never had money or credit issues because I have put minimum deposits down.....
They were quite happy to part ex my 09 plate Focus TDCI when I bought my A3. In the end though I sold it to my brother.
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I'd second that they happily took my 07 plate Civic ctdi off of my hands for £3k with 113k miles & every panel dented / scratched by the one previous lady owner (just how do you get a dent three quarters of the way up a C pillar lol !???.)
